Colorado U.S. Senator Michael Bennet has co-sponsored U.S. Senator Tammy Duckworth’s (D-Unwell.) bipartisan Fitness center Mitigation and Survival (GYMs) Act to offer much-needed help for gyms, health services, and studios that shuttered operations to guard public well being in the course of the lethal Coronavirus Illness 2019 (COVID-19) pandemic, however as a consequence, have struggled to remain in enterprise. The bipartisan GYMS Act would set up a $30 billion grant program by way of the Small Enterprise Administration (SBA), just like the packages already in existence for eating places and reside occasion venues.
“Gyms and health facilities had been among the many companies hardest-hit by COVID-19 and so they want our help,” stated Bennet. “By way of the bipartisan GYMs Act, we will be sure that these services have entry to the versatile help they should get again on their ft. I stay up for working with my colleagues to get this completed.”
Whereas 2020 was troublesome for a lot of companies… gyms, health facilities, and studios had been notably hard-hit. Trade-wide, gyms noticed a 58% decline from 2019 by way of the top of 2020. As of December 2020, 17% of health facilities had completely closed and 1.4 million jobs – or 44% of the business – have been misplaced in the course of the pandemic.
The bipartisan GYMs Act would supply help to small and midsize health services.
Particularly, it might:
Authorize a complete of $30 billion for grants to eligible entities, which would come with health services that both present instruction for bodily train and/or supply area for particular person train use.
Present grants of as much as $20 million for many corporations, with the hardest-hit corporations being eligible for grants of as much as $25 million.
Permit a health club to make use of grant funds for payroll prices, hire, utilities, mortgage curiosity, employee safety expenditures, curiosity on debt accrued earlier than February 15, 2020, and different bills.
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